Shares of Adani Wilmar fell sharply by over 7% today after its promoter, Adani Commodities, announced the exercise of the oversubscription option in its ongoing Offer for Sale (OFS). The move has brought further pressure on the stock, which has already been under scrutiny.
Key Details of the OFS:
- Base Offer Size: The OFS initially included 17.54 crore shares, representing 13.50% of the company’s equity.
- Oversubscription Option: Adani Commodities added an additional 1.96 crore shares, equivalent to 1.51% of the company’s equity.
- Total Offer Size: With the oversubscription, the total OFS now stands at 19.51 crore shares, representing 15.01% of the company’s equity.
- Retail Investors’ Bidding Day: 1.95 crore shares (1.50% equity) will be available for retail investors to bid on T+1 day, January 13, 2025.
The oversubscription indicates a significant move by the promoter to monetize holdings. However, the stock has witnessed a continuous slide, reflecting investor concerns about the impact of the large-scale equity sale on the market price.
Stock Performance:
- Current Price: ₹268.70, down 7.69%.
- Day’s Range: ₹267.50 – ₹272.90.
- Year’s Range: ₹267.50 – ₹408.95.
- Market Capitalization: ₹349.66 billion.
Adani Wilmar Share Price history
| Day | Open | Close | Change % |
|---|---|---|---|
|
Fri, Jan 10 2025
|
₹294.00
|
₹291.10
|
-10.00%
|
|
Thu, Jan 9 2025
|
₹320.00
|
₹323.45
|
-0.83%
|
|
Wed, Jan 8 2025
|
₹326.00
|
₹326.15
|
-0.90%
|
|
Tue, Jan 7 2025
|
₹326.20
|
₹329.10
|
|
|
Mon, Jan 6 2025
|
₹331.00
|
₹325.10
|
-1.07%
|
|
Fri, Jan 3 2025
|
₹330.00
|
₹328.60
|
-0.59%
|
|
Thu, Jan 2 2025
|
₹326.00
|
₹330.55
|
|
|
Wed, Jan 1 2025
|
₹308.00
|
₹328.70
|
|
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